Wage stagnation for Australian workers continued in the June quarter, with private sector employees falling behind inflation. It's become a hallmark of this Coalition government.
Despite the royal commission, the big banks made sure the financial year ended on a high note for investors — much better than workers.
The peak of the jobs boom is behind us. If wages haven't started growing strongly by now, they're hardly likely to do so in coming months.
"Don't mention industrial relations" appears to be the mantra for policymakers as they try to explain why wage stagnation is weighing down the economy so heavily.
Australians are ill-served by a media that focuses only on the surface and not on the depths; on the symptoms and not the disease producing them.
It's hard to see how any long-term return to higher wages growth will be achieved without a significant rise in strikes, which have been at historically low levels for many years.
The government is justifiably proud of its employment achievements -- but it's been done without a company tax cut, and it hasn't helped wages.
Policymakers, refusing to accept that their wage growth thinking is deeply flawed, serve nothing but the interests of profitable corporations.